Global Fiberglass Market to Reach 10,873.1 Mn by 2025

Transparency Market Research has released a new market report titled “Fiberglass Market (By Glass Type – S-Glass, C-Glass, E-Glass, ECR-Glass, Others; Fiber Type – Rovings, Mats, Strands, Fabrics; Technology – Layup, Resin Infusion Molding, Injection Molding, Compression Molding, Filament Winding, Pultrusion, Others; Application – Automotive & Transportation, Aerospace & Defense, Wind Energy, Construction, Marine, Sports & Leisure, Pipe & Tank, Others; Region – North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017–2025”. According to the report, global fiberglass market was valued at US$ 7,219.7 Mn in 2016 and is projected to reach US$ 10,873.1 Mn by 2025 at a CAGR of 4.7% from 2017 to 2025.

Fiberglass is produced from molten glass in different forms such as strands, rovings, yarn, mats, and fabric. Rovings occupied for the major share with more than 40% in 2016 in the global fiberglass market in terms of fiber type. Layup technology was majorly used among other technologies that included pultrusion, compression molding, resin transfer molding, filament winding, injection molding, and others. In terms of glass types for fiberglass, E-glass and S-glass, together accounted for more than 60% in 2016 and this trend is expected to remain the same during the forecast period. Globally, automotive application dominated the consumption of fiberglass with more than 25% among other applications such as construction, wind energy, aerospace & defense, sports & leisure, marine, pipes & tanks, etc.

North America accounted for major share with more than 30% in the global fiberglass market in 2016 and the share is expected to remain the same during the forecast period. In terms of glass type, E-glass and S-glass dominated the market, together with more than 50% in 2016. The roving segment held a prominent share. Automotive industry is the major sector using fiberglass in this market. The U.S. dominated the North American fiberglass market in 2016, in terms of demand and supply, due to the presence of industry leaders such as Owens Corning and Johns Manville with their major production plants in this region that to cater the fiberglass market.

Asia Pacific region is primarily driven by developments in the construction, automotive and wind energy industries due to which fiberglass is consumed more in this region. Here, wind energy is likely to offer lucrative opportunities in this market, led by the rise in installed wind mill capacities in China.

Europe houses premium car manufacturers which demands high strength material for which fiberglass is an apt choice. Hence, automotive application consumes majority of fiberglass in Europe. This is followed by construction industry because fiberglass fulfils the requirements of Building Codes regulation in Europe.

Middle East offers an interesting platform for the consumption of fiberglass due to the region’s increasing focus on construction industry in order to deviate from the decreasing revenue generation from oil production. This region also houses fiberglass production factories of leading players such as Jushi Fiberglass, Busubait Group, Gulf Fiberglass Factory, etc.

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Major companies manufacturing fiberglass include Owens Corning, Jushi Group Co., Ltd., Taishan Fiberglass Inc., Johns Manville, Chongqing Polycomp International Corp., Xingtai Jinniu Fiberglass Co., Ltd., Shandong Fiberglass Group Co., Ltd., Glasstex Fiberglass Materials Corp., etc. among others.

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